What is globalisation?
Globalisation refers to the increasing unification of the world's economic order through reduction of such barriers to international trade as tariffs, export fees, and import quotas. The goal is to increase material wealth, goods, and services through an international division of labor by efficiencies catalyzed by international relations, specialization and competition. It describes the process by which regional economies, societies, and cultures have become integrated through communication, transportation, and trade.
Useful sources on globalisation:
The term is most closely associated with the term economic globalisation: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, the spread of technology, and military presence.
To know more on economic globalisation you can watch this TED video by Alex Tabarrok who argues that free trade and globalisation are shaping our once-divided world into a communyt of idea-sharing more healty, happy and prosperous than anyone's prediction.
Click here to watch the video.
Updated: 09.11.11 16:22